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Investments (Tables)
 3 Months Ended
Mar. 31, 2018
Investments [Line Items]  
Schedule of Held-to-maturity Securities
March 31, 2018
 
 
 
 
 
 
 
 
 
 
 
 
($ in thousands)
 
Amortized
Cost
 
Net
 Unrealized Gains
 (Losses)
 
Carrying
Value
 
Unrecognized
 Holding
Gains
 
Unrecognized Holding
 Losses
 
Fair
Value
Obligations of states and political subdivisions
 
$
25,088

 
63

 
25,151

 
799

 
—

 
25,950

Corporate securities
 
16,532

 
(96
)
 
16,436

 
877

 
—

 
17,313

Total HTM fixed income securities
 
$
41,620

 
(33
)
 
41,587

 
1,676

 
—

 
43,263

December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
 
($ in thousands)
 
Amortized
Cost
 
Net
 Unrealized Gains
 (Losses)
 
Carrying
Value
 
Unrecognized
 Holding
Gains
 
Unrecognized Holding
 Losses
 
Fair
Value
Obligations of states and political subdivisions
 
$
25,154

 
84

 
25,238

 
1,023

 
—

 
26,261

Corporate securities
 
16,996

 
(105
)
 
16,891

 
1,003

 
(55
)
 
17,839

Total HTM fixed income securities
 
$
42,150

 
(21
)
 
42,129

 
2,026

 
(55
)
 
44,100

 
Schedule of Available-for-sale Securities
March 31, 2018
 
 
 
 
 
 
 
 
($ in thousands)
 
Cost/
Amortized
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair
Value
AFS fixed income securities:
 
 
 
 
 
 
 
 
U.S. government and government agencies
 
$
51,163

 
410

 
(624
)
 
50,949

Foreign government
 
18,032

 
253

 
(85
)
 
18,200

Obligations of states and political subdivisions
 
1,304,321

 
18,475

 
(4,636
)
 
1,318,160

Corporate securities
 
1,624,105

 
11,033

 
(13,416
)
 
1,621,722

Collateralized loan obligations and other asset-backed securities ("CLO and other ABS")
 
789,717

 
5,765

 
(999
)
 
794,483

CMBS
 
430,894

 
404

 
(4,715
)
 
426,583

Residential mortgage-backed
securities (“RMBS”)
 
918,365

 
2,911

 
(9,736
)
 
911,540

Total AFS securities
 
$
5,136,597

 
39,251

 
(34,211
)
 
5,141,637

December 31, 2017
 
 
 
 
 
 
 
 
($ in thousands)
 
Cost/
Amortized
Cost
 
Unrealized
Gains
 
Unrealized
Losses
 
Fair
Value
AFS fixed income securities:
 
 
 
 
 
 
 
 
U.S. government and government agencies
 
$
49,326

 
647

 
(233
)
 
49,740

Foreign government
 
18,040

 
526

 
(11
)
 
18,555

Obligations of states and political subdivisions
 
1,539,307

 
44,245

 
(582
)
 
1,582,970

Corporate securities
 
1,588,339

 
30,891

 
(1,762
)
 
1,617,468

CLO and other ABS
 
789,152

 
6,508

 
(202
)
 
795,458

CMBS
 
382,727

 
1,563

 
(841
)
 
383,449

RMBS
 
709,825

 
6,487

 
(1,430
)
 
714,882

Total AFS fixed income securities
 
5,076,716

 
90,867

 
(5,061
)
 
5,162,522

AFS equity securities:
 
 
 
 
 
 
 
 
Common stock
 
129,696

 
38,287

 
(226
)
 
167,757

Preferred stock
 
14,115

 
904

 
(71
)
 
14,948

Total AFS equity securities
 
143,811

 
39,191

 
(297
)
 
182,705

Total AFS securities
 
$
5,220,527

 
130,058

 
(5,358
)
 
5,345,227
Schedule of Fair Value and Gross Pre-Tax Net Unrealized/Unrecognized Loss of Securities by Length of Time, AFS
March 31, 2018
 
Less than 12 months
 
12 months or longer
 
Total
($ in thousands)
 
Fair Value
 
Unrealized
Losses1
 
Fair Value
 
Unrealized
Losses1
 
Fair Value
 
Unrealized
Losses1
AFS fixed income securities:
 
 

 
 

 
 

 
 

 
 
 
 
U.S. government and government agencies
 
$
27,084

 
(624
)
 
—

 
—

 
27,084

 
(624
)
Foreign government
 
6,367

 
(85
)
 
—

 
—

 
6,367

 
(85
)
Obligations of states and political subdivisions
 
344,037

 
(4,489
)
 
3,416

 
(147
)
 
347,453

 
(4,636
)
Corporate securities
 
910,974

 
(13,348
)
 
1,677

 
(68
)
 
912,651

 
(13,416
)
CLO and other ABS
 
384,113

 
(992
)
 
1,095

 
(7
)
 
385,208

 
(999
)
CMBS
 
321,980

 
(4,715
)
 
—

 
—

 
321,980

 
(4,715
)
RMBS
 
749,493

 
(9,422
)
 
10,332

 
(314
)
 
759,825

 
(9,736
)
Total AFS securities
 
$
2,744,048

 
(33,675
)
 
16,520

 
(536
)
 
2,760,568

 
(34,211
)

December 31, 2017
 
Less than 12 months
 
12 months or longer
 
Total
($ in thousands)
 
Fair
Value
 
Unrealized
Losses1
 
Fair Value
 
Unrealized
Losses1
 
Fair Value
 
Unrealized
Losses1
AFS fixed income securities:
 
 

 
 

 
 

 
 

 
 
 
 
U.S. government and government agencies
 
$
23,516

 
(233
)
 
250

 
—

 
23,766

 
(233
)
Foreign government
 
1,481

 
(11
)
 
—

 
—

 
1,481

 
(11
)
Obligations of states and political subdivisions
 
107,514

 
(422
)
 
14,139

 
(160
)
 
121,653

 
(582
)
Corporate securities
 
238,326

 
(1,744
)
 
3,228

 
(18
)
 
241,554

 
(1,762
)
CLO and other ABS
 
74,977

 
(196
)
 
1,655

 
(6
)
 
76,632

 
(202
)
CMBS
 
154,267

 
(773
)
 
5,214

 
(68
)
 
159,481

 
(841
)
RMBS
 
269,485

 
(1,285
)
 
11,200

 
(145
)
 
280,685

 
(1,430
)
Total AFS fixed income securities
 
869,566

 
(4,664
)
 
35,686

 
(397
)
 
905,252

 
(5,061
)
AFS equity securities:
 
 
 
 
 
 
 
 
 
 
 
 
Common stock
 
4,727

 
(226
)
 
—

 
—

 
4,727

 
(226
)
Preferred stock
 
3,833

 
(71
)
 
—

 
—

 
3,833

 
(71
)
Total AFS equity securities
 
8,560

 
(297
)
 
—

 
—

 
8,560

 
(297
)
Total AFS
 
$
878,126

 
(4,961
)
 
35,686

 
(397
)
 
913,812

 
(5,358
)
  1 Gross unrealized losses include non-OTTI unrealized amounts and OTTI losses recognized in AOCI. 

Schedule of Fixed Maturity Securities By Contractual Maturities
 
 
AFS
 
HTM
($ in thousands)
 
Fair Value
 
Carrying Value
 
Fair Value
Due in one year or less
 
$
231,898

 
10,888

 
10,979

Due after one year through five years
 
1,931,022

 
27,710

 
29,226

Due after five years through 10 years
 
2,742,707

 
2,989

 
3,058

Due after 10 years
 
236,010

 
—

 
—

Total fixed income securities
 
$
5,141,637

 
41,587

 
43,263
Schedule of Other Investment Portfolio By Strategy And Remaining Commitment Amount and Maximum Exposure to Loss Associated With Each Strategy
Other Investments
 
March 31, 2018
 
December 31, 2017
($ in thousands)
 
Carrying Value
 
Remaining Commitment
 
Maximum Exposure to Loss1
 
Carrying Value
 
Remaining Commitment
 
Maximum Exposure to Loss1
Alternative Investments
 
 

 
 

 
 
 
 
 
 
 
 
   Private equity
 
$
54,950

 
102,888

 
157,838

 
52,251

 
99,026

 
151,277

   Private credit
 
38,210

 
94,306

 
132,516

 
37,743

 
94,959

 
132,702

   Real assets
 
26,076

 
35,493

 
61,569

 
25,379

 
27,014

 
52,393

Total alternative investments
 
119,236

 
232,687

 
351,923

 
115,373

 
220,999

 
336,372

Other securities
 
24,322

 
—

 
24,322

 
16,895

 
—

 
16,895

Total other investments
 
$
143,558

 
232,687

 
376,245

 
132,268

 
220,999

 
353,267


1The maximum exposure to loss includes both the carry value of these investments and the related unfunded commitments. In addition, tax credits that have been previously recognized in Other securities are subject to the risk of recapture, which we do not consider significant. 
Schedule of Aggregated Summarized Income Statement Financial Information For Partnerships In Our Alternative Investment Portfolio
Income Statement Information
 
Quarter ended March 31,
($ in millions)
 
2018
 
2017
Net investment (loss) income
 
$
(35.4
)

25.6

Realized gains (losses)
 
594.0


(235.1
)
Net change in unrealized appreciation (depreciation)
 
461.6


561.5

Net gain
 
$
1,020.2


352.0

Selective’s insurance subsidiaries’ other investments gain
 
$
1.6

 
1.6


 
Schedule of Securities Pledged As Collateral
($ in millions)
 
FHLBI Collateral
 
FHLBNY Collateral
 
State and Regulatory Deposits
 
Total
U.S. government and government agencies
 
$
3.0

 
—

 
22.2

 
25.2

Obligations of states and political subdivisions
 
—

 
—

 
3.2

 
3.2

CMBS
 
7.3

 
23.5

 
—

 
30.8

RMBS
 
57.6

 
132.5

 
—

 
190.1

Total pledged as collateral
 
$
67.9

 
156.0

 
25.4


249.3
Schedule of Pre-Tax Net Investment Income Earned
 
 
Quarter ended March 31,
($ in thousands)
 
2018
 
2017
Fixed income securities
 
$
42,041


36,891

Equity securities
 
1,977


1,468

Short-term investments
 
523


250

Other investments
 
1,563


1,603

Investment expenses
 
(2,873
)

(2,793
)
Net investment income earned
 
$
43,231

 
37,419
Schedule of OTTI
OTTI charges were $1.2 million in First Quarter 2018 and $3.5 million in First Quarter 2017, with each security type's charge not exceeding 1% of its fair value.
Schedule of Components of Net Realized and Unrealized Gains and Losses Excluding OTTI Charges
 
 
Quarter ended March 31,
($ in thousands)
 
2018
 
2017
Net realized (losses) gains on the disposals of securities:
 
 
 
 
Fixed income securities
 
(3,335
)
 
1,964

Equity securities
 
8,069

 
—

Short-term investments
 
(3
)
 
—

Other investments
 
—

 
466

Net realized gains on the disposal of securities
 
4,731

 
2,430

OTTI charges
 
(1,212
)
 
(3,475
)
Net realized gains (losses)
 
3,519

 
(1,045
)
Unrealized losses recognized in income on equity securities1
 
(14,068
)
 
—

Total net realized and unrealized investment (losses)
 
$
(10,549
)
 
(1,045
)
1Unrealized holding losses in First Quarter 2018 on equity securities held as of March 31, 2018 was $5.1 million.

The components of net realized gains on disposals of securities for the periods indicated were as follows:
 
 
Quarter ended March 31,
($ in thousands)
 
2018
 
2017
HTM fixed income securities
 
 
 
 
Gains
 
$
2

 
—

Losses
 
—

 
(1
)
AFS fixed income securities
 
 

 
 

Gains
 
2,623

 
3,552

Losses
 
(5,960
)
 
(1,587
)
Equity securities
 
 

 
 

Gains
 
8,399

 
—

Losses
 
(330
)
 
—

Short-term investments
 
 
 
 
Gains
 
1

 
—

Losses
 
(4
)
 
—

Other investments
 
 
 
 
Gains
 
—

 
480

      Losses
 
—


(14
)
Total net realized gains on disposals of securities
 
$
4,731


2,430